Circle Internet Group, Inc. (NYSE:CRCL) Receives Average Rating of “Hold” from Brokerages

Circle Internet Group, Inc. (NYSE:CRCL) has been assigned an average rating of “Hold” from the twenty-two brokerages that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $123.4706.

A number of equities research analysts have recently commented on the company. Wells Fargo & Company dropped their price target on Circle Internet Group from $128.00 to $111.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. HC Wainwright initiated coverage on Circle Internet Group in a research report on Friday, December 19th. They issued a “neutral” rating and a $85.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, February 10th. Zacks Research downgraded shares of Circle Internet Group from a “hold” rating to a “strong sell” rating in a report on Monday, February 16th. Finally, The Goldman Sachs Group lifted their price target on shares of Circle Internet Group from $79.00 to $88.00 and gave the company a “neutral” rating in a research note on Monday, January 5th.

Insider Buying and Selling at Circle Internet Group

In related news, Director Patrick Sean Neville sold 30,000 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $90.00, for a total value of $2,700,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Heath Tarbert sold 43,694 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $117.80, for a total transaction of $5,147,153.20. Following the completion of the transaction, the president directly owned 599,156 shares of the company’s stock, valued at approximately $70,580,576.80. The trade was a 6.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 540,510 shares of company stock valued at $50,984,443 over the last quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC acquired a new stake in Circle Internet Group in the 4th quarter valued at approximately $25,000. Larson Financial Group LLC lifted its stake in Circle Internet Group by 3,800.0% in the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after acquiring an additional 190 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in Circle Internet Group during the 3rd quarter worth approximately $27,000. EverSource Wealth Advisors LLC bought a new position in shares of Circle Internet Group during the 2nd quarter worth approximately $27,000. Finally, Bellevue Asset Management LLC bought a new position in shares of Circle Internet Group during the 4th quarter worth approximately $29,000.

Circle Internet Group Stock Down 4.7%

CRCL opened at $112.58 on Friday. Circle Internet Group has a 12 month low of $49.90 and a 12 month high of $298.99. The company has a fifty day simple moving average of $76.09 and a 200 day simple moving average of $98.09. The stock has a market cap of $26.51 billion and a P/E ratio of -60.53.

Circle Internet Group (NYSE:CRCL) last posted its earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.18. The business had revenue of $770.23 million for the quarter. The business’s revenue for the quarter was up 76.9% compared to the same quarter last year.

Circle Internet Group Company Profile

Circle Internet Group (NYSE: CRCL) is a financial technology company that builds infrastructure to enable businesses and developers to use and move money on public blockchains. Co-founded by Jeremy Allaire and Sean Neville, the company is best known as a principal issuer and steward of USD Coin (USDC), a dollar-pegged stablecoin developed through the CENTRE Consortium, which Circle co-founded with Coinbase. Jeremy Allaire serves as CEO and has been a visible leader in the company’s strategy and public engagement around digital currency and payments innovation.

Circle’s core products and services center on digital currency issuance and programmable payments.